ProximityParks Expands its Last-Mile Logistics Portfolio with $40M Industrial Park Acquisition

ProximityParks, a developer of industrial facilities for last-mile logistics in Mexico, has acquired the former Parque Industrial Ceylan, now renamed ProximityParks Vallejo I. According to SiiLA, this property, which was built in 2017, is located on Avenida Ceylan in the Vallejo industrial submarket of Mexico City and is one of the largest and most modern in the capital. Spanning 49,000 square meters of land, the multi-tenant complex was purchased for approximately $40 million.

According to the developer, the renovation of the facilities, which includes highly sustainable infrastructure, along with a storage capacity of over 28,000 square meters of gross leasable area (GLA) and its location on Avenida Ceylan, one of Vallejo's main thoroughfares with connectivity to high-density consumption areas such as Polanco, Satelite, Naucalpan, Lindavista, Condesa, and Centro, will enable ProximityParks Vallejo I to optimize the efficiency of production and supply chains, enhancing the experience for the property's users.

The company also reported that this property is fully leased to five major companies: Unilever, Steren, Truper, Etiflex (ProMach), and Sanchez y Martin. This will strengthen the profitability and stability of the company's portfolio, which, according to SiiLA Market Analytics, closed 2023 with more than 100,000 square meters of GLA distributed across Mexico City, Guadalajara, and Monterrey, mostly Class A, including three industrial parks with sustainable certifications.

ProximityParks' latest acquisition addresses the growing demand for last-mile logistics solutions in Mexico's major metropolitan areas, where consumption and the growth of e-commerce have increased the need for strategic locations for fast, low-cost deliveries with reduced environmental impact. Regarding this, SiiLA data indicate that between 2020 and 2023, the GLA of e-commerce companies in the Mexico Valley metropolitan area nearly doubled. In the past year alone, this sector grew by 13%, primarily driven by significant companies like Amazon and Mercado Libre.

ProximityParks Expansion

The acquisition of ProximityParks Vallejo I is part of a series of strategic moves by the company to strengthen its presence in the last-mile logistics market in Mexico. Through 2027, ProximityParks is expected to continue an ambitious expansion plan that includes investments of around 8 billion pesos (approximately $445 million) to triple its properties nationwide.

In 2023, the developer's plans materialized through several key acquisitions and expansions.

During last year's last quarter, the company expanded its Monterrey Centro industrial park in Nuevo Leon by purchasing adjacent land. The project involves two development phases totaling 120,000 square meters. As of December 2023, Monterrey Centro had about 20,000 square meters of industrial GLA and 2,000 square meters of office space.

Earlier, in mid-2023, the developer unveiled ProximityParks Lomas Verdes in Naucalpan, State of Mexico, with more than 14,000 square meters of GLA.

ProximityParks' expansion strategy combines projects and services tailored to specific logistics needs with geographic diversification plans that enable consolidated and new market entries.

In the commercial real estate sector, combined strategies of consolidation and diversification not only optimize asset utilization but also strengthen economic resilience and promote sustainable growth. By solidifying its position in key markets and diversifying investments nationwide, companies can balance exposure to specific risks, ensure a more stable income base, and flexibly adapt to changing market dynamics. This strategic model is essential to remain competitive and relevant in an ever-evolving economic and commercial environment.

For more information about ProximityParks' portfolio, explore SiiLA SPOT or contact us at spot@siila.com.mx.